It was pretty interesting that in a string of meetings this week there were five topics that were continually repeated by multiple dealers. These topics in order of importance were as follows:
1. WHAT IS WORKING TO SELL MORE USED CARS?
2. WHAT ARE OTHER DEALERS DOING TO BETTER HANDLE INTERNET LEADS?
3. WHAT IS WORKING FOR SPECIAL FINANCE?
4. WHAT SHOULD THE INTERNET MANAGERS ROLE BE?
5. WHAT IS THE BEST METHOD TO ATTRACT SALES PEOPLE?
In a five part series today and tomorrow I will address each of these items to give better insight as to what is working the best…..starting right now!
“What is working to sell more used cars?”
This is a very simple answer: Online inventory priced right and a steady stream of promotions will help sell more used cars. Your used inventory will get plenty of exposure on your website if promoted properly. Your return on investment depends on the amount you invest initially into your online inventory.
You cannot sell them if you do not have them. They will not sell fast unless they are priced right. The key is the right inventory with the right dollar value hanging on the price tag. We have a dealer that has been getting over 300 unique visits per month on a well-equipped Jeep Wrangler. This vehicle got the most views out of his inventory. The only problem was it was priced really high so nobody has even cracked the door on it. If you price according to the market, not according to what you own it for, plus mark-up you have a better shot at selling the vehicle.
To be a monster used car operation you are going to have to promote using mass media combined with online resources. For example promote through pay per click/SEO and third party sources like Autotrader. You can survive on the web alone for used car sales, but to grow past the norm you are going to have to promote to the public through two ways. Let them know you have used cars for sale and that yours are better priced, more affordable, or better protected than the average dealers.
That is what is working to sell MORE used cars.